In his 2013 Policy Address, the Chief Executive proposed a plan to raise the old-age pension and subsidy for senior citizens next year to respectively 3,000 patacas per month and 6,600 patacas per annum, and at the same time, to conduct a study about the consolidation of the two benefit payments, thus making the old-age security level higher than the minimum subsistence index, and together with other welfare support, provide “multi-point support” for the post-retirement life of the elderly.  In addition, the SAR Government will proactively push the legislative work of raising the contributions of the first-tier Social Security System and the second-tier Central Provident Fund System next year, in order to facilitate the Systems develop steadily toward the long-term mechanism.

Proposing to gradually raise the contributions of the Social Security System so as to make them return to a reasonable proportion of contributions to benefit payments while first protecting the financial operations of the system, then followed by deferring the impact of raised contributions on individuals and businesses and responding to the community’s aspiration of raising the old-age security level.  The SAR Government will inject 37 billion patacas within four years to the Social Security Fund.  It also suggested that the old-age pension will be raised to 3,000 patacas next year.  On the other hand, it will also conduct a study about the consolidation of the two benefit payments, i.e. old-age pension and subsidy for senior citizens, so that the comprehensive old-age security level reaches 3,550 patacas per month (old-age pension at 3,000 patacas per month plus subsidy for senior citizens at 550 patacas per month), which is higher than the minimum subsistence index.  In the face of an ageing society, the SAR Government emphasizes that the support to the elderly cannot merely reply on the old-age pension.  It should follow the World Bank’s initiative to stabilize the social security system by devoting resources to more aspects, so as to provide the elderly with "multi-point support", for instance, integrated services like free medical care, housing, welfare benefits, community care and family support, allowing the elderly to enjoy their twilight years in their familiar neighborhood.

The proposal about the raise of contribution and old-age pension has been submitted to the Standing Committee for the Coordination of Social Affairs for discussion and can be implemented immediately after the employer and labour parties reached a consensus.  In the future, the SAR Government will make the system operate soundly in the long run by gradually raising the contributions; the proposals about the contributions, the amount invested and the merging of the private pension funds of the Central Provident Fund System have been preliminary completed.  The SAR Government is now conducting an in-depth discussion with the Monetary Authority of Macao and the insurance sector about the practical operations of the Central Provident Fund System, and will enter the process of legislation after consultation with the community.